HSBC Holdings PLC (LSE:HSBA) has announced that Sir Mark Tucker will retire as group chair and will step down from the board on 30 September.
Meanwhile, Tucker has been named as the new non-executive chairman of Hong Kong insurance group AIA, effective from 1 October, where he was previously CEO between 2010 and 2017.
Brendan Nelson will take over as HSBC’s interim group chair from 1 October.
HSBC will launch a process to select a new permanent chair.
The search for a permanent Chair is being led by Senior Independent Director Ann Godbehere. Sir Mark
Tucker will remain as a strategic adviser to the HSBC CEO, Georges Elhedery, during the transition.